Crédit Agricole du Maroc has taken part in a major African event on farm financing, where it explained how it helps farmers get funding across the whole food chain.
The bank joined the Africa AgriFinance Event at Addis Ababa in Ethiopia organised by the International Finance Corporation through its subsidiary CAM Leasing, which provides leasing services for farming and rural projects.
Nahid El Massnaoui, head of CAM Leasing, told the forum how the company finances every step of farming, from growing crops to processing food. The aim is to make it easier for farmers and agribusinesses to get money at each stage.
The meeting comes as African leaders call for more funding for food production. Moses Vilakati, the African Union’s agriculture commissioner, said Africa needs to raise $100bn to improve food security and triple trade in African food products by 2035.
Crédit Agricole du Maroc set up CAM Leasing in 2019 to offer an alternative to traditional bank loans. Leasing allows farmers to use equipment or buildings while paying over time.
Founded in 1961, the bank focuses on rural development and food security in Morocco. It runs more than 540 branches nationwide and has long financed the farming sector.
The group is now expanding across Africa. It has joined the Green Infrastructure Banks Initiative supported by the African Development Bank, which aims to fund low-carbon infrastructure projects.
The IFC event brings together banks, tech firms and policymakers to tackle climate shocks, supply chain problems and rising farming costs. The discussions support a continental plan to increase African food production by 45% by 2035.
